About: robert

Robert Pringle is founder and chairman of Central Banking Publications, a financial publisher specialising in public policy and financial markets. Central Banking journal, which he has edited for 20 years, has subscribers in 120 countries including the great majority of the world’s central banks.

Recent Posts by robert

Funny thing about money. It is supposed to be a bedrock of stability but it feeds on illusions. So much monetary policy relies on trickery. The elite know things that the unwashed masses do not. Such as money illusion. The success of devaluation rests on tricking the masses. But tell a central banker he or…» Continue Reading

There was a basic flaw in the Vollgeld “sovereign money” proposal rejected by the Swiss in a referendum last Sunday. An arrangement that gives the state or its agencies exclusive power to create money, oversee bank accounts and direct lending to the economy is hostile to capitalism. It cannot produce the assurance needed to allow the…» Continue Reading

Money is a near-universal social institution. It evolved to support human cooperation and to control and coordinate the life of humankind. Like other core institutions, such as marriage and language, the forms that money takes may differ widely. The values and norms governing money’s use, and the practices associated with it, also vary widely. For…» Continue Reading

7. Neglect of international causes This is the most fatal flaw, as it is the one least understood by economists, governments or bankers. My interpretation of the crisis emphasises its international dimensions – not only in the rapid spread of the crisis but also in its root causes (see Lesson 3). Yet this perspective is…» Continue Reading

6. Expect more bad bankers and bad banks How has the state punished the financial industry for its crimes, corruption and anti-social behaviour? By showering it with subsidies, privileges, perks and by offering it protection from an angry public. And by reducing its profitability and capacity to change by piling new regulatory layers and requirements….» Continue Reading